Carol Women's Shoes Women's Fashion nhta-30199 Block Heel Zip Short Heel Boots B07H94YHFZ Parent 3d5a435 -

Asia shares rally as Wall St bounce relieves
Visitors look at a stock quotation board at Tokyo Stock Exchange, October 11, 2018. — Reuters pic
Visitors look at a stock quotation board at Tokyo Stock Exchange, October 11, 2018. — Reuters pic

SYDNEY, Oct 17 — Asian got some much needed relief today after upbeat US earnings reports drove a rebound on and helped restore a little confidence in emerging market stocks and currencies.

Japan’s Nikkei leaped out of the gates with an early rise of 1.3 per cent, but still has a long way to go to recoup the past week’s losses.

MSCI’s broadest index of Asia- shares outside Japan added 0.5 per cent and South Korea 1.5 per cent.

had jumped more than 2 per cent yesterday in reaction to upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs.

“Analysts are looking at this reporting season in particular and the general data over the next couple of months for signs that the receding tailwinds of fiscal stimulus and the headwinds of tariffs are going to hit the US market simultaneously,” said Rakuten Securities Australia COO, Nick Twidale.

“On first viewing this doesn’t appear to be happening.”

On Wall Street, the three major indexes tallied their biggest one-day percentage gains since March. The Dow jumped 2.17 per cent, while the S&P 500 climbed 2.15 per cent and the Nasdaq 2.89 per cent.

Netflix Inc shot 12 per cent higher after the close as its results far outstripped market expectations with 7 million streaming customers added.

The blockbuster outcome sent shares of Alphabet Inc, Facebook Inc and Inc up about 1 per cent in extended trade.

The four make up the so-called FAANG group of high-growth companies that in recent months has lost some of its momentum following market-leading gains in recent years.

The US economic news was also robust, notably a sharp rise in job openings to a fresh all-time high.

My biggest threat

All this cheer favoured beaten-down currencies in emerging markets while taking some steam out of the safe-haven yen. The MSCI Emerging Market Currency Index rose for a third straight session.

The latest survey of global fund managers by BofA Merrill Lynch found they saw emerging market currencies as the most undervalued ever against the .

The dollar itself was up on the yen at 112.31 but flat on the euro at US$1.1578. Against a basket of currencies, the US dollar idled at 95.080 having touched a two-week trough overnight.

Not helping the US dollar was fresh criticism of the Federal Reserve from US President Donald Trump, who told Fox Business Network: “My biggest threat is the Fed.”

Carol Women's Shoes Women's Fashion nhta-30199 Block Heel Zip Short Heel Boots B07H94YHFZ Parent 3d5a435

Trump has recently castigated the for raising interest rates.

“While such name calling shouldn’t mean anything in terms of what the Fed actually does, it is a factor which somewhat undermines sentiment towards the dollar,” said Ray Attrill, head of FX strategy at NAB.

“It’s a contributory factor, albeit minor, to recent poor performance of the US dollar.”

In commodity markets, held near recent 11-week highs at US$1,225.64 (RM5,091.42).

Oil prices firmed as expectations of higher US shale output vied with the risk that crude supply from the Middle East could be disrupted by looming US sanctions on Iran and growing tensions with top exporter Saudi Arabia.

Saudi Arabia has been under pressure since prominent Saudi journalist Jamal Khashoggi disappeared after visiting the Saudi consulate in Istanbul.

US crude rose 35 cents to US$72.27, while crude climbed 33 cents to US$81.74 a barrel. — Reuters

Source: The Malay Mail Online

Post Views: 6

Leave a Reply Cancel Reply

Your email address will not be published. Required fields are marked as *

New Look Women’s Chaca 5880893 Chelsea Boots B07FX14LP3 Parent , Rocket Dog Womens Everest Westwood Boots B00K8TUV1G Parent , New Look Women’s Bruno 5894073 Ankle Boots B07GF8PP9S Parent , New Look Women’s Circle 5880784 Ankle Boots B07GF4MCGW Parent , New Look Women’s 915 Destiny 5892514 Ankle Boots B07GNX88ZB Parent , New Look Women’s 915 Brace 5900150 Ankle Boots B07GNX6SBY Parent , New Look Women’s Albert 5889294 Ankle Boots B07GV1WTND Parent , Spirale Unisex Adults Bath Chelsea Boots B07CNZWYNG ParentPink Knee High Platform Boots B01N0KS92H ParentFeet First Fashion Raelynn Womens Low Heel Pull On Buckle Biker Boots B07GNQJHBD ParentMiss Selfridge Women’s Wrap Chelsea Boots B0742M5RQ8 Parent , Maison Des Cadeaux New Ladies Winter Block Heel Wide Elastic Boot B077MBKTYZ Parent , Bockstiegel Women's Ankle Wellies Saskia, Farbe:gelb;Size:36 B00IX6AH9C Parent , Crocs Crocband Arc Lined, Women's Boots B00B4EWA4U Parent , Tom Tailor Women’s 2793102 Trainers B01MG55ED9 Parent , Skechers Kicks Free Rider Womens Leather Trainers - Boots B00KJX0O54 ParentAgodor Womens High Block Heel Platform Nubuck Leather Knee High Boots With Zip Closed Toe Winter Long Shoes B078S4ZXL7 Parent , Agodor Women's High Heels Stiletto Ankle Boots With Faux Fur Pointed Toe Autumn Winter Elegant Shoes B078WRS88K ParentCipriata Womens/Ladies Rosa Reptile Print Inside Zip Wedge Ankle Boots B073M16HM1 ParentJANE KLAIN Women’s 263 081 Slouch Boots B07252TM5Z ParentArtfaerie Women's Block Heel Ankle Boots Pointed Toe Westen Cowboy Boots Slip On Warm Work Shoes B07FZYT4K9 ParentLoud Look Womens Zip Ankle Boots Ladies Low Heel Casual Work Chelsea Flat Shoes Size 3-8 B07FSRHB7Q ParentSPYLOVEBUY FRANKY Women's Zip Block Heel Ankle Boots Shoes B01KI8CLKA Parent , leather round toe real suede desert boots B006UQZX3M Parent , Refresh Women’s 64672 Ankle Boots B07DDC5PHT ParentTom Tailor Women’s 5892101 Ankle Boots B079HBQ8F4 ParentWomen's Casual Winter Fur Lined Boots Warm Waterproof Snow Shoes B07H17RYVZ ParentOffice Women’s Arch Enemy Boots B074F5FG96 Parent , COOLCEPT Women Fashion Low Heels Slouch Shoes Classic Stretch Mid Boots B01M4KO8FN Parent ,

Time limit is exhausted. Please reload CAPTCHA.

Carol Women's Shoes Women's Fashion nhta-30199 Block Heel Zip Short Heel Boots B07H94YHFZ Parent 3d5a435 -